Skip to Content

Tesla plans to lay off 10% of workforce after dismal quarterly sales, multiple news outlets report

DETROIT (AP) — After reporting dismal first-quarter sales, Tesla is planning to lay off about a tenth of its workforce as it tries to cut costs, multiple media outlets reported Monday. CEO Elon Musk detailed the plans in a memo sent to employees. The layoffs could affect about 14,000 of the 140,473 workers employed by the Austin, Texas, company at the end of last year. Musk’s memo said that as Tesla prepares for its next phase of growth, it needs to look at every aspect of the company for cost cuts and increased productivity, The New York Times and CNBC reported. News of the layoffs was first reported by electric vehicle website Electrek. Shares of Tesla fell nearly 3% in Monday morning trading after the news broke.

Article Topic Follows: AP-National

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KION 46 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content